Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22708. (Read 26709922 times)

You evil, evil ripple shill, how dare you even proposing that.

lol, please don't do it, see my sig VVV

I actually had something in development when Coinbase opened its exchange.  I stopped development when I heard the announcement.  I was going to introduce USD as a Counterparty asset, backed 100% by USD Ripple balances.  You could buy into the Counterparty tokens by sending Ripple USD to a specified address, which would then send you USD Counterparty tokens.  You'd then trade the USD Counterparty tokens against Bitcoins on the Counterparty decentralized exchange as desired.  You could also choose to send your Counterparty USD tokens back to the specified address, which would then send you Ripple USD.  In this manner, the USD would be 100% reserved in the Ripple address, which is publicly visible and verifiable on the Ripple ledger.

Anyhow, I halted development after deciding the need was greatly lessened due to Coinbase.  Am I wrong?

a decentralized exchange could by definition have no central bank account where one would be able to send fiat $ to and thus could not hold any balance of fiat currency as i understand it ... i would imagine it would somehow have to involve users attaching their individual bank accounts to the decentralized exchange ledger and sending money directly from one person's bank account to the other person's bank account in exchange for btc on the ledger of the exchange , while the btc sent to the decentralized exchange could be run off of a side chain connected to the btc blockchain ? ... at least as far as i understand the idea in any case it seems like it would be awfully clumsy and slower vs a centralized exchange ... more like a p2p marketplace capable of running a balance sheet ...

Coin
Explanation

I never understood how one dealing with fiat was possible in the first place

Possibly. In my mind at least, maybe it did.

Good point, btw, never thought of it like that.

Achievable for alts. When there's fiat involved it becomes a whole lot trickier. I guess once Gemini and Coinbase are fully rolling worries will lessen but they're still bottlenecks.

I was thinking about this.  Has the Coinbase exchange lessened the desire for a decentralized exchange?

Too much regulatory bullshit for me when dealing with Coinbase but what you say is true.

No hope for one of them decentralized exchanges we bitcointalk so much about?

btc-e has indeed been run properly for years now as far as i can tell , heck i've traded there myself and never had a problem either , but as compared to exchanges in china (government doesn't fuck around) and exchanges in the u.s. (government doesn't fuck around) it would presumably be a lot easier for the btc-e exchange which is run out of croatia if i remember correctly (a not long ago war torn country) to simply disappear eventually whenever they get to X millions goal to run off with ... my rationale for trusting coinbase is that (presumably) the folks who invested 75M into it know who they gave their money to / have a few extra M to hire bounty hunters / assassins / would be able to call upon the u.s. law and financial enforcement agencies should they attempt to pull any funny business (same goes for the major chinese exchanges , as far as difficulty evading chinese law and financial agencies)

For me its the best and trustworthy exchange, that is based on my experience and BTC-E's history.

I wrote this topic about exchanges:

https://bitcointalksearch.org/topic/dataexchanges-their-way-of-using-a-fractional-reserve-and-generate-inflation-945881

I'd have to agree. Why in the world would someone send money to an Anonymous exchange?  Sure they have been taking money and giving it back but that could stop in an instant.  Now you have no clue where your money may be.  

Times are changing and there are better options.

Coin
Explanation

I never had any problems wiring money to BTC-E, Ive sent them numerous transfers over the last 18 months without any issues at all.

I think ChartBuddy has been giving me seizures

stamp is currently trading at a constant lower price for a few weeks now , i would assume because people still do not trust that it is solvent / being ethically run and not about to gox them and disappear after the 19,000 btc "hack" plus they've never made an internal audit public ... thus people do not have as much willingness to trust their fiat or btc on it / much has already been withdrawn to other exchanges / loss of customers leading to lower volume and sellers and buyers thus trading at a comparative discount vs the other more trusted higher volume exchanges ... also if their books are fucked / the exchange is underwater they may as a result not be buying coins off their own exchange at this point in an effort to return to solvency or a desire to minimize their btc exposure , while other exchanges which are solvent may well be internally buying , which of course would cause higher prices on those solvent exchanges ... my trust is with coinbase at this point ... what with major investor backing and insurance and u.s. regulation (at least in half of the states here) it seems the safest bet to me ... if but with fewer bells and whistles ... don't know what the deal with kraken being lower is ... and if you're willing to wire money to whereverthefuckistan btc-e is pretty much always much lower than everywhere else ...

Simple manipulation taken the forum of hypnotic messages spewed out by the Bitcoin BearTrolls




Deleted it as it may trigger an epileptic episode.

Is that ever a cool image.